I am approaching an exchange on a house in Llandough and my mum and dad have sent the 10% deposit to my conveyancing practitioner. I am now informed that as the deposit has not arrived from me my solicitor needs to disclose this to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The conveyancer is obliged to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
We note that you have a post code search directory listing solicitors on the Nationwide conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in Llandough?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Llandough.
My bid for a property was accepted at auction in Llandough. Conveyancing is required. What happens now?
Having legally committed yourself to purchase you now have to retain a conveyancing practitioner soon as you are faced with a pending a fixed date to complete the conveyancing. All auction property will have an associated legal set of papers. This should include evidence of title and search results. If you have purchased leasehold property the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You must hand this to the conveyancer working for you ASAP. Do make sure that your finances are in place to complete on the date specified in the contract.
I recently had an offer agreed on a house in Llandough. My mortgage broker recommended their conveyancers. I paid an upfront payment of £225. A few days later, the conveyancing practitioner called me sheepishly admitting that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I was told two weeks ago that my mortgage has been agreed to by Virgin Money. Is it usual for Virgin Money to only issue the offer once my solicitor in Llandough is approved on their conveyancing panel? Virgin Money have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
My wife and I purchased a terraced Victorian house in Llandough. Conveyancing practitioner acted for me and Britannia. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Llandough and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing solicitor who conducted the conveyancing.
I am employed by a reputable estate agent office in Llandough where we see a number of leasehold sales derailed due to short leases. I have received inconsistent advice from local Llandough conveyancing firms. Can you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a split level flat in Llandough, conveyancing was carried out in 2000. Can you work out an approximate cost of a lease extension? Equivalent properties in Llandough with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 yearly. The lease terminates on 21st October 2091
You have 67 years remaining on your lease the likely cost is going to be between £10,500 and £12,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Online research suggests that Llandough solicitors are more costly than Llandough conveyancers in Llandough when it comes to buying a house. So is it better if I use a conveyancer or a solicitor where I am buying a property in Llandough.
When it comes to conveyancing in Llandough the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.